2-Unit Duplex with Covered
For Sale
$365,000
Pending
1715 NW 14th St, Oklahoma City, OK 73106
Both residences offer two bedrooms, two bathrooms, open kitchens, and included major appliances.
Property Size2,115 SF
Days on Market51
Property Features for 1715 NW 14th St
General Information
Standard status
Pending
Size
2,115 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
polished concrete floors
granite countertops
open kitchen
stackable washer/dryer
covered parking
Building Details
Year Built
2015
Listing Agency:
West and Main Homes
(405) 923-7777
Listed By:
Jarred Smith
Source:
Sarahflemingestates
Added: Jul 14
Changed: Aug 31
Last Checked: Aug 30 at 8:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of West and Main Homes
Investment Insights
Based on property information with market context.
This 2,115-square-foot duplex contains two residences with matching two-bedroom, two-bath layouts. Each unit includes polished concrete flooring, granite countertops, an open kitchen, major appliances, and a stackable washer/dryer. The property is served by a shared circular drive with covered parking.
One unit is currently vacant, while the second unit is occupied. The duplex is located at 1715 NW 14th St in Oklahoma City’s College Addition, near the Plaza District and its restaurants and local businesses. Its two-unit configuration provides separate residential spaces within a single property, with finishes and appliances already in place.
One unit is currently vacant, while the second unit is occupied. The duplex is located at 1715 NW 14th St in Oklahoma City’s College Addition, near the Plaza District and its restaurants and local businesses. Its two-unit configuration provides separate residential spaces within a single property, with finishes and appliances already in place.
Key Highlights
- 2,115‑square‑foot duplex with two residential units
- Each unit offers 2 bedrooms and 2 bathrooms
- Polished concrete floors and granite countertops in both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,307
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$386,140
$386.1K
Cap Rate 7%
$275,814
$275.8K
Cap Rate 9%
$214,522
$214.5K
Market Conditions
NOI Build-Up for 2,115 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.2K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$27.6K $13.04/SF
− OpEx
−$8.3K −$3.91/SF
NOI
$19.3K $9.13/SF
Area
Oklahoma City, OK
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$386,140
Cap Rate 7%
$275,814
Cap Rate 9%
$214,522
Alternative Uses
Best Use
Multifamily LT 5
$275.8K
$241.3K – $321.8K
NOI $19,307 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$255.2K
$223.3K – $297.8K
NOI $17,865 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$723.3K
$632.9K – $843.9K
NOI $50,633 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
424
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms, two bathrooms, open kitchens, and included major appliances.
Where is this duplex located?
The property is located at 1715 NW 14th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 2,115‑square‑foot duplex with two residential units; Each unit offers 2 bedrooms and 2 bathrooms; Polished concrete floors and granite countertops in both units
